Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0082%/8h= +9.0% APRpaid last 24h −0.003%

Price spread now: Phemex against Pacifica−0.223%7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$600.604% of the position

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.099%−$10 on $10k

Price spread, last 3 days (all we have)+0.323%+$32 · spread now −0.223%, 7d avg +0.031%

Together, before fees+0.224%+ Points / potential airdropPacifica: Active · farm board+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.254% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.223% now, against its 7-day average of +0.031%). If the spread goes back, that is −$25 on $10k: about 10 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.099%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica kPEPE	0.000004753	0.0100	pay 0.0013% / 1h	4m 26s	$56K	$119K	10x
Short	Phemex u1000PEPEUSDT	0.000004742	0.0182	get 0.0182% / 8h	4m 26s	$2.3M	$6.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Pacifica. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PacificabpFee PhemexbpOrdersPrice spread, now −0.223%Rate

Funding earned: $17.3
Price spread: −0.223% → +0.031%: −$25.38
Slippage, 4 orders: −$40.44
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$68.52
Costs to cover: 0.604%
Break-even: 34.7 days

Slippage from Pacifica: live order book, 8 min ago; Phemex: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Pacifica live order book, 8 min ago	7.41 bp	11.4 bp −$11	18.3 bp −$183	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	2.43 bp	21.6 bp −$22	38.6 bp −$386	doesn't fit	doesn't fit

PEPE on 35 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid kPEPE	−0.0328%	1h	0.000004750	−0.063%	$68.8M	$99.3M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004750	−0.068%	$17K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004754	+0.023%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004739	−0.299%	$3.8M	$13.9M	50x	as long as short
Pacifica kPEPElong	+0.0100%	1h	0.000004753	long leg	$56K	$119K	10x
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004757	+0.076%	$87.2M	$295.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004755	+0.042%	$150.7M	$65.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004755	+0.048%	$24.4M	$54.9M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004755	+0.036%	$42.0M	$151.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004725	−0.592%	$544K	$4.2M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004725	−0.594%	$25K	$351K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004720	−0.694%	$99K	$755K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004743	−0.206%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004741	−0.252%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004737	−0.345%	$535K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0176%	1h	0.000004755	+0.042%	$574K	$6.6M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0177%	8h	0.000004755	+0.052%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDTshort	+0.0182%	8h	0.000004742	−0.223%	$2.3M	$6.5M	50x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004757	+0.090%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0195%	8h	0.000004760	+0.147%	$42.3M	$499.2M	50x	as long as short
01 Exchange kPEPEUSD	+0.0312%	1h	0.000004759	+0.126%	$545	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0318%	8h	0.000004739	−0.295%	$3.9M	$22.3M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0345%	8h	0.000004756	+0.072%	$29K	$13K	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0392% / S −0.0430%	1h	0.000004000	−15.843%	$43K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004737	−0.337%	$567K	$25.5M	50x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004728	−0.526%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0528%	1h	0.000004741	−0.257%	$92K	$603K	15x	as long as short
BingX 1000PEPE-USDC	+0.0548%	8h	0.000004757	+0.080%	—	$2.3M	—	as long as short
Aster 1000PEPEUSDT	+0.0555%	8h	0.000004754	+0.029%	$1.5M	$7.3M	50x	as long as short
Extended 1000PEPE-USD	+0.0560%	1h	0.000004757	+0.075%	$521K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0560%	1h	0.000004762	+0.189%	$135K	—	3x	as long as short
MEXC PEPE_USDT	+0.0562%	8h	0.000004759	+0.126%	$89.9M	$283.7M	300x	as long as short
Binance 1000PEPEUSDT	+0.0563%	8h	0.000004760	+0.156%	$133.9M	$1.07B	75x	as long as short
Nado kPEPE-PERP	+0.0594%	1h	0.000004756	+0.060%	$180K	$849K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0806%	1h	0.000004741	−0.252%	$76K	$98K	25x	as long as short